By MATT PIKE
The Kansas City Chiefs are reworking Patrick Mahomes' contract, adding two years to tie the star quarterback to Kansas City through the 2033 season in an NFL record deal.
The contract, sources say, comes in at a value of $504.75 million, making it the first NFL deal valued at over a half-billion dollars. Equity Sports CEO Chris Cabott and Chiefs general manager Brett Veach and his staff put the finishing touches on the landmark agreement Wednesday. The new money on the deal is worth $239.05 million, with the total value now at $504.75 million from 2026 through '33, with the first four years being guaranteed at signing.
All $504.75 million becomes guaranteed through contract mechanisms. Mahomes can make up to $522.25 through incentives and escalators. Beginning in 2027, when the new money begins, the deal averages $64 million per year, setting a new NFL record for average annual value.
This marks the third time in six years that the Chiefs and Mahomes have reset the quarterback market. All three of those contracts were led by Cabott and Veach. The Chiefs, led by Clark Hunt and the Hunt family, have now committed $689.05 million in new money to Mahomes from 2022 to 2033, in hopes of extending one of the great dynasties in NFL history.
"Over the last decade Patrick has become one of the most iconic, beloved sports figures of all-time," said Hunt, the Chiefs' chairman and CEO. "He has helped lead our franchise to five Super Bowl appearances and three championships, he has been instrumental in shaping the Chiefs brand and putting Kansas City on the world stage, and on top of it all he has been an outstanding role model in the community. Patrick is a generational talent and an elite human being, and I'm so excited he will continue to lead our team into the future."
Mahomes is currently recovering from a season-ending torn ACL and LCL which he suffered on December 14th, 2025 and underwent surgery the next day. The Chiefs, as well as Mahomes, have remained optimistic throughout the offseason that he'll be ready for Week 1, when they host the Denver Broncos on Monday Night Football.
Mahomes' initial rookie contract in 2017 was a 4-year, $16.4 million deal. The 10-year, $450 million contract he signed in 2020 was groundbreaking at the time, and he's already earned well over $200 million of it while the quarterback market has continued to skyrocket, but once again adjusting that deal helps bring Mahomes more in line with the current quarterback market.
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